Based on following passage answer the questions below.
A Ltd with an Authorised Capital of ₹10,00,000 is divided into shares of ₹10 each, issued 50,000 shares at a premium of ₹2 per share payable as follows:
on Application ₹3 per share
on Allotment ₹5 per share (including premium)
on First and Final call Balance amount
Application were received for 60,000 shares and the directors allotted shares to all on proportionate basis. All money received except first and final call from Hari who had applied for 1200 shares. His shares were forfeited and later half of his forfeited shares were reissued at ₹8 per share as fully paid up.
Identify the number of shares with which A ltd is registered.
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → 1,00,000 Shares
The capital with which a company is registered is its authorised capital, stated in the Memorandum of Association.
Authorised capital = ₹10,00,000
Face value of a share = ₹10
Shares registered = ₹10,00,000 ÷ ₹10 = 1,00,000 shares
50,000 shares is the issued capital and 60,000 shares the number applied for; 10,00,000 is the amount in rupees, not a number of shares.
NCERT (2026-27 edition): |